Flytxt secures $11M funding led by German firm DAH Beteiligungs

Flytxt, which has development centres in India, will use a significant part of the funds for research and development, to grow beyond the telecom sector and enter segments like BFSI and retailShashwati Shankar | ET Bureau | April 26, 2017, 08:53 IST

Flytxt, which has development centres in India, will use a significant part of the funds for research and development, to grow beyond the telecom sector and enter segments like BFSI and retail, according to its CEO, Vinod Vasudevan.

The company has an Indian research and development centre, which has been set up in partnership with IIT Delhi, and the second centre is set up through a partnership with the PMO in the Netherlands.

“India is a very important market for us, not just because of the presence of our R&D centre and a larger part of our team here, but also given the fast-growing adoption of our product,“ Vasudevan told ET. The company offers an enterprise-specific customer data analytics product that can ingest, manage and analyse large volumes of customer data to derive insights.